Vessel Order Dearth Seen Spurring China Shipyard Closings
This article is for subscribers only.
Shipyards in China, the world’s largest vessel-building nation, are at risk of closing after they failed to secure orders, according to ICAP Shipping International Ltd.
Thirty-eight percent of yards in the country didn’t get contracts for new vessels in 2012 and 10 percent have no deliveries scheduled beyond the year’s end, the London-based shipbroking unit of ICAP Plc said in a report sent by e-mail on Dec. 24.